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Make a new investment in Downtown Courtenay and receive a temporary municipal property tax exemption on the increased value of your building. This program supports new residential, commercial, and mixed-use development that helps strengthen the downtown core.
At a glance
- What it is: A time-limited exemption on the municipal portion of property taxes for the increased improvement value of your building after construction.
- Who it’s for: Eligible new buildings and major re-developments within the designated Downtown Revitalization Areas (1 or 2) that meet program thresholds.
- When to apply: At the same time as your building permit application.
- How long it lasts: 5 years (standard) or 8 years with an approved Housing Agreement securing affordable units.
Program purpose
The Downtown Courtenay Revitalization Tax Exemption Bylaw No. 2937 [PDF/1MB] provides incentives that:
- encourage investment in downtown properties
- support business vitality by increasing the number of people living and working downtown
- improve buildings and streetscapes to create a more attractive, walkable area
- foster economic growth across the Comox Valley by strengthening Courtenay’s core
Eligibility
Your project may qualify if it:
- is within Revitalization Area 1 or 2
- meets zoning and all applicable bylaws
- meets minimum thresholds:
- Commercial (Area 1 or 2): minimum construction value $200,000
- Residential (Area 2): 4 or more dwelling units
- Mixed-use: qualifies if either the residential or commercial threshold is met
- does not already receive another municipal tax exemption
- has no taxes in arrears
- is a new building or redevelopment (projects that already have an Occupancy Permit are not eligible)
- enters into a Revitalization Tax Exemption Agreement with the City
How to apply
To apply for a downtown revitalization tax exemption, follow these steps:
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Exemption amounts and terms
| Area 1 (Core Downtown) | Area 2 (Edge of Downtown) |
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